The U.S. has instructed Chevron to halt operations in Venezuela within 30 days, impacting Maduro’s government which relies on oil revenue. The move reflects a turnaround in Trump’s approach, shifting from engagement back to pressure due to unmet election promises by Venezuela. The repercussions could lead to further economic decline and increased emigration from the nation.
The United States has mandated Chevron to cease its operations in Venezuela within a month, a move that significantly impacts the financially strained Venezuelan government. Chevron is responsible for producing and exporting approximately 250,000 barrels of crude oil daily, which plays a crucial role in sustaining revenue for President Nicolas Maduro’s administration. The announcement from a Treasury Department division has been characterized by industry experts as an impractical timeframe for such a drastic action.
This sudden change in U.S. policy marks a significant shift from Trump’s previous attempts to engage with Maduro’s regime. The loss of Chevron’s operations could lead to increased economic despair in Venezuela and may exacerbate the humanitarian crisis, further increasing migration from the country. Ultimately, while intended to pressure Maduro, this decision could inadvertently harm ordinary Venezuelans.
Original Source: www.kpvi.com
